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Important changes in the Workplace Childcare Voucher Scheme

Posted on: March 20th, 2018 by Clive Headon No Comments

The Government launched a new Tax-Free Childcare scheme for working families from April 2017.

What does this mean for you as an employer?

If you currently have a voucher scheme in place, you can continue to join new members until October 2018 (or for as long as you keep the scheme open) although employees who wish to join after this date will be unable to. (more…)

Spring Statement 2018

Posted on: March 14th, 2018 by Leighton Reed No Comments

Chancellor Philip Hammond has delivered his Spring Statement 2018, and on his promise to move away from two major fiscal announcements every year.

There was no red briefcase, no red book, and no tax changes as the chancellor announced updated economic forecasts in a speech lasting less than half the length of any of his previous statements.

Not that it comes as a surprise seeing that Hammond moved this to a Tuesday, rather than keeping it in its usual slot straight after prime minister’s questions on a Wednesday. (more…)

Spring Statement 2018 – Upcoming changes

Posted on: March 14th, 2018 by Clive Headon No Comments

National living wage and national minimum wage

National minimum wage rates for all ages and apprentices are increasing from 1 April 2018. (more…)

Childcare for Partners in a Partnership and the Self Employed

Posted on: March 14th, 2018 by Sarah Curzon No Comments

Historically partner’s in a partnership and the self employed couldn’t join the childcare voucher scheme as they were not employees.  This scheme enabled workers to receive vouchers towards childcare tax and National Insurance free from their employer, a scheme which is now being phased out with only employees already in the scheme being able to continue. However, the self employed and partners in partnership can now participate in the tax free child care scheme.  This is a new scheme introduced by HMRC to helping working families with childcare costs.  The scheme is available for children under 12 years old and under 17 years old if registered disabled.  Working parents qualify where they earn at least £120 per week, if taxable income  exceeds £100,000 per year you won’t be eligible.  The earnings limit does not apply if you are self employed and started your business less than 12 months ago. (more…)

Collaborative Working and Mergers

Posted on: March 6th, 2018 by Sarah Case No Comments

Month three of our new publication 11 Key Steps for Trustees, 1 Giant Leap for your charity Focuses on collaborative working and mergers.

Have you ever thought that there could be advantages to be gained by your charity from working with another charity? (more…)

Financing options for legal firms

Posted on: March 6th, 2018 by Seamus Gates No Comments

Is your firm’s cash under strain? Are you hoping to invest in improvements but don’t have the ready cash? Do you have a retirement looming? What are your options?

Cash. All businesses need it, and the pressures on this precious resource are particularly weighty for legal firms, who have: (more…)

Charity Commission consultation: have your say!

Posted on: March 6th, 2018 by Sarah Case No Comments

Open consultation: Charities that are connected with non-charitable organisations

The Charity Commission has opened a consultation about new guidance to help charities manage their relationships with connected non-charitable organisations. The new guidance is closely based on the core trustee duties as explained in the regulator’s existing guidance, and sets out principles for trustees to follow.

Respond to the consultation (more…)

One in 15 face fines after missing tax return deadline

Posted on: March 1st, 2018 by Leighton Reed No Comments

A total of 745,588 people run the risk of being fined by HMRC after missing the deadline to submit their self-assessment tax return.

About one in 15 taxpayers failed to beat the midnight deadline on 31 January 2018 to file their annual returns relating to the 2016/17 financial year. (more…)

Cash basis for landlords

Posted on: March 1st, 2018 by James Dobson No Comments

The default basis for landlords’ accounts.

Traders have been able to prepare their accounts using the cash basis since April 2013, as long as they meet certain eligibility conditions.

This option was extended to landlords running unincorporated property businesses from 6 April 2017. (more…)

Taxpayers reclaim £493m from HMRC

Posted on: March 1st, 2018 by Leighton Reed No Comments

HMRC has had to return nearly half-a-billion pounds to taxpayers since April 2015, claims analysis of government statistics.

Royal London reports the Revenue is overcharging on two areas of the tax system, and has had to refund £493 million as a result.

Savers using the new pension freedoms are among the hardest hit, as income tax on pension withdrawals is taken on an emergency tax basis. (more…)